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UAE President hopes for 'better future for all' as nation welcomes in 2025

President Sheikh Mohamed extends message of goodwill to political leaders around the world

The National

December 31, 2024

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President Sheikh Mohamed sent New Year's greetings to leaders of nations around the world, wishing them continued health and prosperity in 2025.

Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, shared similar messages, as did Sheikh Mansour bin Zayed, Vice President, Deputy Prime Minister and Chairman of the Presidential Court.

The leaders also extended New Year greetings to the people of the UAE, with renewed hopes for peace and prosperity.

“I extend my best wishes on the occasion of the New Year,” President Sheikh Mohamed wrote on X. “Together, let us pray for peace and progress in the region and around the world as we work united to foster a better future for all.”

In a separate post, Sheikh Mohammed bin Rashid hoped for “glory, pride, prosperity and stability” for the country year after year. He highlighted the “historic numbers” the Emirates has achieved in “all its indicators” in 2024.

Sheikh Mohammed also wished for peace around the world and expressed hope for “humanity to advance to new horizons”.

“We welcome 2025 with greater optimism, greater ambitions and a greater determination to continue the journey of growth and prosperity,” Sheikh Mohammed said.

“My sincere congratulations on the occasion of the New Year and my wishes that it will be a year of progress and prosperity for our beloved country under the shadow of our wise leadership and for all countries of the world,” Sheikh Mansour said.

New Year's Eve fireworks in Abu Dhabi and Dubai - in pictures

  • Fireworks display on Burj Khalifa for the new year 2025 celebration at Dubai Mall in Dubai. Pawan Singh / The National
    Fireworks display on Burj Khalifa for the new year 2025 celebration at Dubai Mall in Dubai. Pawan Singh / The National
  • Sheikh Zayed Heritage Festival drone and fireworks New Year’s Eve display held at Al Wathba, Abu Dhabi. Victor Besa / The National
    Sheikh Zayed Heritage Festival drone and fireworks New Year’s Eve display held at Al Wathba, Abu Dhabi. Victor Besa / The National
  • Sheikh Zayed Heritage Festival drone and fireworks New Year’s Eve display held at Al Wathba, Abu Dhabi. Victor Besa / The National
    Sheikh Zayed Heritage Festival drone and fireworks New Year’s Eve display held at Al Wathba, Abu Dhabi. Victor Besa / The National
  • Sheikh Zayed Heritage Festival drone and fireworks New Year’s Eve display held at Al Wathba, Abu Dhabi. Victor Besa / The National
    Sheikh Zayed Heritage Festival drone and fireworks New Year’s Eve display held at Al Wathba, Abu Dhabi. Victor Besa / The National
  • Sheikh Zayed Heritage Festival drone and fireworks New Year’s Eve display held at Al Wathba, Abu Dhabi. Victor Besa / The National
    Sheikh Zayed Heritage Festival drone and fireworks New Year’s Eve display held at Al Wathba, Abu Dhabi. Victor Besa / The National
  • Sheikh Zayed Heritage Festival drone and fireworks New Year’s Eve display held at Al Wathba, Abu Dhabi. Victor Besa / The National
    Sheikh Zayed Heritage Festival drone and fireworks New Year’s Eve display held at Al Wathba, Abu Dhabi. Victor Besa / The National
  • Fireworks at the Sheikh Zayed Festival in Al Wathba, Abu Dhabi, during the evening of December 31. Victor Besa / The National
    Fireworks at the Sheikh Zayed Festival in Al Wathba, Abu Dhabi, during the evening of December 31. Victor Besa / The National
  • The crowd enjoys the circus show during the Sheikh Zayed Heritage Festival, at Al Wathba. Victor Besa / The National
    The crowd enjoys the circus show during the Sheikh Zayed Heritage Festival, at Al Wathba. Victor Besa / The National
  • The Sheikh Zayed Heritage Festival will attempt to set four Guinness World Records once again. Victor Besa / The National
    The Sheikh Zayed Heritage Festival will attempt to set four Guinness World Records once again. Victor Besa / The National
  • There will be fireworks for 50 minutes at Al Wathba, while 6,000 drones take to the sky for 20 minutes, creating a special show with lasers and light. Victor Besa / The National
    There will be fireworks for 50 minutes at Al Wathba, while 6,000 drones take to the sky for 20 minutes, creating a special show with lasers and light. Victor Besa / The National
  • The crowd enjoys the circus show at Al Wathba, Abu Dhabi. Victor Besa / The National
    The crowd enjoys the circus show at Al Wathba, Abu Dhabi. Victor Besa / The National
  • Hourly fireworks displays at Al Wathba started at 6pm and were set to continue every hour until 11.40pm, after which the world record-breaking show would begin. Victor Besa / The National
    Hourly fireworks displays at Al Wathba started at 6pm and were set to continue every hour until 11.40pm, after which the world record-breaking show would begin. Victor Besa / The National
  • Visitors arrive at the Sheikh Zayed Heritage Festival, at Al Wathba. Victor Besa / The National
    Visitors arrive at the Sheikh Zayed Heritage Festival, at Al Wathba. Victor Besa / The National
  • A fountain show during the evening of December 31, at Dubai Mall. Pawan Singh / The National
    A fountain show during the evening of December 31, at Dubai Mall. Pawan Singh / The National
  • Children ready for New Year Eve's celebrations at Dubai Mall. Pawan Singh / The National
    Children ready for New Year Eve's celebrations at Dubai Mall. Pawan Singh / The National
  • Sheikh Zayed Heritage Festival, held at Al Wathba, Abu Dhabi. Victor Besa / The National
    Sheikh Zayed Heritage Festival, held at Al Wathba, Abu Dhabi. Victor Besa / The National
  • Sheikh Zayed Heritage Festival, held at Al Wathba, Abu Dhabi. Victor Besa / The National
    Sheikh Zayed Heritage Festival, held at Al Wathba, Abu Dhabi. Victor Besa / The National
  • Entertainment during New Year's Eve at Dubai Mall in Dubai. Pawan Singh / The National
    Entertainment during New Year's Eve at Dubai Mall in Dubai. Pawan Singh / The National

Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence, also shared his best wishes after meeting senior officials at Zabeel Majlis to discuss Dubai's achievements in 2024 and future plans.

“As we welcome the New Year, we reaffirm our commitment to working as one team to solidify Dubai's status as a global leader in diverse sectors,” he said on X. “We wish everyone in the UAE, the region, and across the world a happy and peaceful New Year.”

The UAE put on a series of firework displays across the country to ring in the new year. More than 45 fireworks shows lit up the Dubai sky, with the most popular at Burj Khalifa, the Burj Al Arab and Atlantis.

The capital staged its own spectacular displays at Abu Dhabi Corniche, Yas Bay waterfront and a record 60-minute show at Sheikh Zayed Heritage Festival in Al Wathba. Meanwhile, Ras Al Khaimah aimed to recreate fireworks magic again after setting Guinness World Records for two years in a row.

UAE workers begin 2025 with a public holiday, with January 1 marked off for federal government workers and the private sector by the government last week. Motorists in Dubai and Abu Dhabi will also enjoy free parking after authorities waived fees for the public holiday.

New Year celebrations around the World - in pictures

  • Local residents look at fireworks as they celebrate the New Year at Ancol Beach in Jakarta. AFP
    Local residents look at fireworks as they celebrate the New Year at Ancol Beach in Jakarta. AFP
  • Fireworks at Tsim Sha Tsui to the north of Victoria Harbour in Hong Kong mark the beginning of 2025. AP Photo
    Fireworks at Tsim Sha Tsui to the north of Victoria Harbour in Hong Kong mark the beginning of 2025. AP Photo
  • Revellers in Hong Kong photograph the New Year fireworks over Victoria Harbour. Reuters
    Revellers in Hong Kong photograph the New Year fireworks over Victoria Harbour. Reuters
  • Fireworks over Sydney Opera House and Harbour Bridge during New Year’s Eve celebrations in Sydney, Australia. Reuters
    Fireworks over Sydney Opera House and Harbour Bridge during New Year’s Eve celebrations in Sydney, Australia. Reuters
  • Fireworks light up the Taipei skyline during New Year's Eve celebrations in Taiwan. Getty Images
    Fireworks light up the Taipei skyline during New Year's Eve celebrations in Taiwan. Getty Images
  • Anticipation for New Year 2025 grows at the Sheikh Zayed Heritage Festival in Abu Dhabi. AFP
    Anticipation for New Year 2025 grows at the Sheikh Zayed Heritage Festival in Abu Dhabi. AFP
  • Makati, Metro Manila, the Philippines, is awash with New Year's colours. AFP
    Makati, Metro Manila, the Philippines, is awash with New Year's colours. AFP
  • A blaze for colour for 2025 over Victoria Harbour in Hong Kong. AFP
    A blaze for colour for 2025 over Victoria Harbour in Hong Kong. AFP
  • Fireworks over the port during the New Year celebrations in Colombo, Sri Lanka. AFP
    Fireworks over the port during the New Year celebrations in Colombo, Sri Lanka. AFP
  • The sky over Marina Bay lights up during New Year celebrations in Singapore. Reuters
    The sky over Marina Bay lights up during New Year celebrations in Singapore. Reuters
  • Fireworks illuminate the sky over Hoan Kiem Lake during the New Year's Eve celebrations in Hanoi, Vietnam. EPA
    Fireworks illuminate the sky over Hoan Kiem Lake during the New Year's Eve celebrations in Hanoi, Vietnam. EPA
  • A square decorated for Christmas and the New Year festivities in the Russian-controlled Donetsk region, eastern Ukraine. AP Photo
    A square decorated for Christmas and the New Year festivities in the Russian-controlled Donetsk region, eastern Ukraine. AP Photo
  • Fireworks explode as "2025" is projected onto the The Arc de Triomphe the New Year's celebrations on the Champs Elysees avenue in Paris, France. Reuters
    Fireworks explode as "2025" is projected onto the The Arc de Triomphe the New Year's celebrations on the Champs Elysees avenue in Paris, France. Reuters
  • Fireworks explode as the Arc de Triomphe is illuminated during the New Year's celebrations on the Champs Elysees avenue in Paris, France. Reuters
    Fireworks explode as the Arc de Triomphe is illuminated during the New Year's celebrations on the Champs Elysees avenue in Paris, France. Reuters
  • People gather on the Champs Elysees avenue during the New Year's Eve celebrations in Paris, France. Reuters
    People gather on the Champs Elysees avenue during the New Year's Eve celebrations in Paris, France. Reuters
  • Fireworks illuminate the sky over the Quadriga statue of the Brandenburg Gate during New Year's Eve celebrations in Berlin, Germany. EPA
    Fireworks illuminate the sky over the Quadriga statue of the Brandenburg Gate during New Year's Eve celebrations in Berlin, Germany. EPA
  • Fireworks illuminate the Quadriga on the Brandenburg Gate during the New Year celebrations in Berlin, Germany. AFP
    Fireworks illuminate the Quadriga on the Brandenburg Gate during the New Year celebrations in Berlin, Germany. AFP
  • Fireworks illuminate the Quadriga on the Brandenburg Gate during the New Year celebrations in Berlin, Germany. AFP
    Fireworks illuminate the Quadriga on the Brandenburg Gate during the New Year celebrations in Berlin, Germany. AFP
  • Fireworks light the sky above the Quadriga at the Brandenburg Gate during New Year's celebrations shortly after midnight in Berlin, Germany. AP
    Fireworks light the sky above the Quadriga at the Brandenburg Gate during New Year's celebrations shortly after midnight in Berlin, Germany. AP
  • Fireworks light up the sky over Elizabeth Tower, also known as Big Ben, and the London Eye in central London during the New Year celebrations. PA
    Fireworks light up the sky over Elizabeth Tower, also known as Big Ben, and the London Eye in central London during the New Year celebrations. PA
  • Fireworks light up the sky over Elizabeth Tower, also known as Big Ben, and the London Eye in central London during the New Year celebrations. PA
    Fireworks light up the sky over Elizabeth Tower, also known as Big Ben, and the London Eye in central London during the New Year celebrations. PA
  • Fireworks burst in the sky around the London Eye and The Elizabeth Tower, commonly known by the name of the clock's bell, "Big Ben", at the Palace of Westminster, London. AFP
    Fireworks burst in the sky around the London Eye and The Elizabeth Tower, commonly known by the name of the clock's bell, "Big Ben", at the Palace of Westminster, London. AFP
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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3. Don't max out all your debts: how much you maximise those credit facilities will have an impact. If you have five credit cards and utilise 90 per cent of that credit, it will negatively affect your score.

Updated: January 01, 2025, 3:34 AM
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